15 September 2026
The 18th BRICS Summit in New Delhi reinforced a gradual shift towards a more fragmented global economic and financial architecture. Rather than announcing a common…
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14 September 2026
This week’s highlights include rate decisions from the Fed, BoE, and BoJ. With limited data the ECB President Lagarde’s speech at the Hofburg im Dialog…
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11 September 2026
The world’s benchmark borrower is also its biggest external debtor. Bond investors have long treated that as America’s privilege. They may come to treat it…
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10 September 2026
Major developed economies are increasingly devoting substantial resources to servicing sovereign debt, challenging the assumption that developed market government bonds are inherently lower risk. In…
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08 September 2026
We see contrails all over our skies, the white condensation trails produced by jet engines. The environmental problem is that contrails are responsible for approximately one third…
07 September 2026
Key events this week include the ECB’s rate decision (Thu) and China (Wed) and US inflation data (Thu and Fri). Today, eurozone GDP will be…
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The new government led by Mr Burnham has raised Labour’s poll ratings a little and has revived media interest in what changes it might put through. Both the voters…
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World Market Summary
The odyssey continued for market participants in July, as the weak seasonality of the summer months continued to be the Achilles’ heel for market momentum, with…
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31 July 2026
The Federal Reserve did not raise interest rates this week. The bond market tightened policy anyway.
The Federal Open Market Committee left the federal funds rate…
30 July 2026
Microsoft’s recent results have reignited an important debate among investors: does the company’s aggressive artificial intelligence investment represent exceptional long-term vision, or excessive capital allocation?
The question matters…